Unlike traditional bank loans that not only take weeks to process and have a minimum repayment period of at least six month, instant cash loans in Sri Lanka have repayment periods starting from just a few weeks. These short term instant cash loans are ideal to sort out your dire financial need while also ensuring that you get out of debt in as short a time period as possible.
Types of instant cash loans
Salary advances are one of the most popular types of instant cash loans online in Sri Lanka. Everyone knows the feeling of running out of money just a few days prior to payday. A short term instant cash loan is ideal to finance your needs during the days leading up to your salary date, which you will promptly settle once you get your salary.
A medical emergency is an instance where you would need a large sum of cash urgently and occurs at any time and place. When you need instant cash to settle hospital bills, you can https://www.onedayloan.net/payday-loans-me apply for and receive money in your account in as little as thirty minutes from anywhere around the country, and at any time of day.
Sri Lanka is a country where you need higher education to improve your life, with better jobs and career prospects going to the educationally-qualified. With education having become a legitimate industry in Sri Lanka, instant cash loans for students have become popular to help parents or self-funding learners to pay their tuition or exam fees on time.
Almost all entrepreneurs will have to fight many battles with banks to receive funding to manage or expand their business. Banks are notoriously tight-fisted when it comes to business loans. Due to this, most entrepreneurs resort to loans for instant cash to finance their business ventures, be it as working capital or funding business expansion.
Utility bills are one of the most critical expenses yet these remain the ones that most people tend to neglect paying on time or in full. Once you receive the red notice of service disconnection, you would need to rush to settle the minimum amount to avoid a major inconvenience. Instant cash lenders now offer utility bill loans for this very purpose.
You can now also apply for personal loans through instant cash loans online in Sri Lanka, to finance any number of your wants and needs. Instant personal loans can be used for critical household repair, debt settlement, a once-in-a-lifetime holiday and literally anything else which you need to get instant cash for.
Do you need instant cash loans?
Even though instant cash loans online in Sri Lanka have a number of irresistible benefits, it is highly advisable that you only opt for them if your requirement meets all of the following criteria:
Urgent: if you need to get instant cash in one day (or less), this type of loan is ideal as almost no other money lending facility can match its speed. If you have a few weeks to gather the money, consider all your other borrowing options and pick the most suitable.
Critical: instant cash loans in Sri Lanka often come with high interest rates and other associated fees (service charges, late payment fees etc.) so unless your requirement is absolutely crucial, it does not justify the overall cost of an instant cash loan online.
No other option: keep in mind that a loan for instant cash should not be your go-to choice whenever you are short of cash. You always have other options as well, ranging from credit cards and overdrafts to borrowing from friends and family.
